ETH Whale “Gimli” Hoards 1 Trillion Shiba Inu Tokens Post Major Announcement

Shiba Inu (SHIB) recently announced a slew of upcoming projects and updates for strengthening its ecosystem. These measures have been positively received by the crypto community.  Interestingly the Ethereum (ETH) whales have gone on a heavy hoarding of the SHIB tokens.

ETH Whale Gimli Adds $11 mln Worth Shiba Inu Into Its Kitty

As per the data received from Whalestats, an ETH whale wallet named “Gimli” is on a hoarding spree and has added Shiba Inu tokens worth $11.34 million to its kitty. The 1 trillion Shiba Inu tokens were purchased in a number of transactions in the past 24 hours.  The biggest transaction was 250 billion SHIB tokens worth around $2.86 million.

The latest purchases of the meme coin lands it among the top 10 tokens used among the biggest 2000 Ethereum whales by trading volume in the last 24 hours. However this spectacular accumulation by the ETH whales has not translated much by the way of a spectacular surge in SHIB values.

SHIB values have increased marginally by 2% over the past 24 hours. The purported Dogecoin killer and the second largest meme cryptocurrency was changing hands at an average price of $0.000011, at the press time. It is still tanking by 87% from its all time high of $0.00008845. Meanwhile, SHIB prices have registered an increase of 14% in the last 7 days.

ETH whales have no qualms in profiting from the falling prices of Shiba Inu. SHIB has become the favorite for Ethereum whales and the top 100 whales are now holding around $567.8 million worth of Shiba Inu tokens. “Gimli” whale wallet is holding around $4.31 million worth of SHIB tokens.